The Global Cancer Pain Diagnostics Market is forecast to record an increase in its revenue from US$ 6,716.2 Mn in 2021 to US$ 9,951.2 Mn by 2030. The market is registering growth at a CAGR of 4.6% during the forecast period from 2022 to 2030.
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The World Health Organization (WHO) estimates that cancer will be the top cause of death globally in 2020, accounting for around 10 million deaths, or roughly one in every six. The financial, physical, and psychological toll that cancer takes on people, families, communities, and health systems worldwide is still rising.
The most upsetting symptom experienced by cancer patients is pain connected to their disease, with over 70% of patients experiencing it. Up to 50% of cancer patients may not receive enough pain treatment despite the availability of numerous efficient medications. One year after diagnosis, more than 90% of participants in the American Disease Society’s Research of Cancer Survivors-I study reported experiencing brief discomfort sensations related to their cancer or its treatment. Furthermore, five to six years after diagnosis, 6% of Australian adult cancer survivors recorded that their pain was quite a bit or very much. Additionally, with a mean survival period after diagnosis of 16.4 years, nearly 20% of childhood cancer survivors reported recent suffering related to their earlier disease.
Cancer is a wide range of disorders that affect practically every organ and tissue in the body. It is characterized by abnormal cells that proliferate uncontrollably, invade nearby body regions, or spread to other organs. Lung, colon, prostate, breast, and rectum cancers are the most common types. One-third of cancer deaths are the result of smoking, drinking alcohol, having a high body mass index, not exercising, and eating few vegetables and fruits.
Market Influencing Factors
Due to factors like rising healthcare spending, international government aid, and a specialized uptake of cancer diagnostics by healthcare facilities, the global market for cancer pain diagnostics is expanding. The best course of action for the many malignancies that can currently neither be prevented nor prevented from occurring is early diagnosis. Early cancer detection increases the likelihood that the condition will react to therapy, increasing the likelihood of survival with less morbidity and requiring less expensive therapy. Early cancer detection and avoiding care delays can considerably improve the quality of life for cancer patients.
Additionally, the cost of healthcare is constantly rising in many countries, notably in the Asia-Pacific region, which is fueling the rise of the global market. As per the OECD, early calculations for healthcare expenditure for 16 OECD countries group rose to approximately 9.9% of GDP in 2020.
The market is expanding as a result of increased government support for the global fight against cancer. For instance, the Health Minister’s Cancer Patient Fund (HMCPF) in India provides financial assistance to cancer patients from low-income families. In 2017, the World Health Assembly passed Resolution WHA70.12, Cancer prevention and control in the context of an integrated approach, encouraging governments and the WHO to act rapidly in order to reduce premature mortality from cancer by meeting targets outlined in the 2030 UN Agenda for Sustainable Development and the Global Action Plan for NCD Prevention and Control 2013-2020.
Despite the market drivers, the high cost of treatment and accessibility to facilities are predicted to restrain market expansion over the projection period.
Regional Summary
In 2021, North America dominated the global cancer pain diagnostics market accounting for a share of 42%. This is because of the well-established healthcare infrastructure, the presence of leading business figures, and higher healthcare spending.
Contrary, due to the substantial rise in cancer frequency, the Asia Pacific region is seeing a growth in CAGR of 5.7% throughout the projection period. The regional market will continue to expand owing to the rising healthcare expenses and an increase in the population of senior persons.
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Competitive Landscape
Hisamitsu Pharma Co., MundiPharma International Ltd., Orexo AB, Teva Pharma Industries Ltd., Biodelivery Sciences International Inc., CK life Science (WEX Pharma), Pfizer Inc., Daiichi Sankyo Co., Roche Holding AG, and Other Prominent Players are some of the major companies competing in the global cancer pain market. The four major players’ collective market share is close to 35%.
In order to increase their market presence, these market players engage in partnerships, mergers and acquisitions, and new product releases. For instance, Pfizer and Amazon Web Services (AWS) worked together to develop cloud-based solutions in December 2021 to enhance the creation, production, and distribution of drugs for use in clinical trials. The business strengthened its standing in the marketplace.
Segmentation Analysis
Disease Indication Analysis
The breast cancer segment held a leading share of 16% in the global cancer pain diagnostics market in 2021 and is likely to project an annual growth rate of 5.5% during 2022-2030. The WHO predicts that in 2020, several million women will receive a breast cancer diagnosis, resulting in 685,000 deaths globally. Breast cancer treatment can be quite effective when the disease is discovered early on, with a survival probability of 90% or greater. In addition, whereas 90% of women in high-income countries survive breast cancer for at least five years after diagnosis, just 66% of women do so in India and 40% in South Africa. However, by 2030, the colorectal cancer segment will generate US$ 549.5 million in revenue.
Drug Type Analysis
The opioids/ narcotics segment dominated the global market with a share of 75% in 2021. As a result, powerful opioids are one of the most successful treatments for cancer pain, with a 75% response rate and a reduction in average pain intensity from 6 to 3. Contrary, the non-opioids segment is forecast to see a global market opportunity of about US$ 482.7 Mn in the upcoming years. Additionally, by 2022, the non-steroidal anti-inflammatory medicine segment in the same segment will generate US$ 1,0000 million in revenue. This is because these drugs are widely accessible and reasonably priced.
Segmentation Outline
By Drug Type Segment
- Opioids/Narcotics
- Morphine
- Fentanyl
- Others
- Non-Opioids
- Acetaminophen
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
- Nerve Blocks
By Disease Indication Segment
- Lung Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Blood Cancer
- Others
By Region Segment
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Italy
- Russia
- Spain
- Poland
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Rest of South America
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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